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VanEck CEO Jan Van Eck anticipates that Bitcoin may reach as much as $2.9 million by the year 2050.
During his appearance on “The Claman Countdown” on Thursday, Van Eck noted that Bitcoin is evolving and forecasted that it will ultimately match half of gold’s overall market capitalization.
According to gold’s present market cap, this forecast would value Bitcoin at approximately $350,000 per coin, representing a significant rise from its current price of around $64,000, he stated.
He also explored a highly optimistic scenario where central banks worldwide might integrate Bitcoin into their monetary frameworks, which could potentially elevate its value to millions per coin. However, he expressed some reluctance to predict Bitcoin achieving such elevated values.
VanEck CEO: Bitcoin will hit $2.9M by 2050https://t.co/V3QLjWk3WG
— FOX Business (@FoxBusiness) August 1, 2024
Nonetheless, he indicated that, under specific conditions, Bitcoin could attain as high as $2.9 million by 2050.
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This year, VanEck has successfully introduced spot Bitcoin and Ethereum ETFs. The CEO characterized the Bitcoin ETFs as among the most successful launches in ETF history.
Van Eck CEO Allocates Over 30% of His Wealth to Bitcoin
Furthermore, Jan Van Eck recently revealed that he has committed over 30% of his personal fortune to Bitcoin (BTC).
“I always want to inform people about my personal actions, as they should be aware,” he stated at the Bitcoin 2024 conference. “I’m significantly over 30%.”
The CEO remarked that determining the amount to invest in Bitcoin is difficult because the strong bullish argument for the digital asset diminishes any justification for selling it.
He referred to his company’s recent analysis, which indicates that Bitcoin could rise fiftyfold to $3 million per coin by 2050 if it becomes a global reserve currency.
“Everyone I encounter at Bitcoin conferences holds much more in their own portfolios,” Eck stated. “Why should I sell Bitcoin if I believe in this super bullish scenario?”
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